The Gus Bus will remain parked at the Stadium of Light for the foreseeable future as Sunderland manager Gus Poyet extended his contract with the Black Cats through 2016 on Wednesday.

“I am delighted to extend my stay with Sunderland AFC, after an unbelievable season and our famous great escape,” Poyet said referring to his side’s 14th place finish in the Premier League after being at the bottom at the mid-point of the season.

The Uruguayan manager, who took over for an unhinged Paolo Di Canio in October 2013, had been linked with a number of potential moves away from Sunderland with Southampton becoming late favorites to capture his eye. But the 46-year-old stuck recommitted to the Wearside club hoping to build on this past season’s success.

From Sky Sports:

“Stability is absolutely key to long-term and sustained success for any football club, and this new contract gives both the club and me that stability going forward.

“Now it’s a different challenge for me and the club and I am relishing the next stage with Sunderland. We achieved so much last season, working together – the club and the fans – and we took many good memories from the season.

“The prospect of creating more of those memories is one which excites me, and now I cannot wait for the next chapter in my career and the history of Sunderland AFC.”

In addition to Sunderland’s impressive 14th place finish, Poyet also drove the Black Cats to the Capital One Cup final where they lost 3-1 to Manchester City. From all indications Poyet will be handed significant funds to build a squad of his own liking this summer after inheriting a team that Di Canio built last summer when he brought in 12 new players.

After struggling with the personnel left to him Poyet made some strategic moves last January, bringing in Sebastien Vergini and Marcos Alonso to firm up a leaky defense and Liam Bridcutt to add grit to the defensive midfield. His true stroke of genius, however, was recalling Connor Wickham from loan and setting the 21-year-old free to score five goals in a three match span and help drag Sunderland out of the relegation zone.